Trembert v. Mott

For some years plaintiff owned stock in the Union Trust & Savings Bank of Flint, which she had inherited from her former husband, once a director of the institution. May 29, 1929, the bank merged with the JjLdns.td.al payings Bank into the Union Industrial Trust & Savings Bank (familiarly called Union Industrial Bank), and plaintiff exchanged her stock for shares in the latter.

In September an arrangement was made for exchange of the stock of the Union Industrial Bank for shares in the Union Commerce Corporation, a holding company, with headquarters at Detroit, at a ratio of five for one.…